SPCXB Price Dips on Macro Risk-Off Sentiment Amid Fed Hike Expectations

SpaceX Tokenised bStocks (SPCXB) is experiencing a modest decline in value, tracking broader market pullbacks. The token's price has dipped by 0.88% to $148.96 over the past 24 hours, mirroring a 1.19% drop in the total crypto market cap and a 1.49% decline in Bitcoin.

The main driver of this move is macro risk-off sentiment across the crypto market, triggered by strong U.S. jobs data that has raised expectations for a Federal Reserve rate hike. The August jobs report showed 162,000 new jobs, pushing market-implied odds of a September Fed rate hike near 60%.

With no secondary catalyst at play, the decline is primarily driven by beta reactions to macro headlines. The token's trajectory will likely mirror Bitcoin's performance in the short term. If Bitcoin remains within its $78,000-$82,000 range, SPCXB could consolidate between $145 and $152.